LAKEWOOD, N.J., April 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), today reported that the Company has completed the audit of its wholly owned subsidiary, Altrius Benefit Consultants, Inc. ("Altrius"). The 2017 and 2018 financial results for Altrius, which precede the acquisition by Reliance, will be posted on the Company's website. Altrius is the final Company subsidiary to complete the audit, which enables the auditors to complete the consolidated 2019 audit for RELI. The 2019 consolidated audit is well underway, and the results will be included in the consolidated financials within the Company's Form 10, which is expected to be filed shortly.
Ezra Beyman, CEO of Reliance Global Group, stated, "We are pleased to have completed the last of our subsidiary audits, and our consolidated audit is in its advanced stages. Once the consolidated audit is complete, we plan to file our Form 10 to become fully reporting with the Securities and Exchange Commission. Importantly, our insurance agency business remains on solid footing despite the pandemic and ongoing economic uncertainty. Moreover, we look forward to implementing Nsure.com's back-end digital platform, which we expect will significantly enhance the efficiency and profitability of these agencies."
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.